The expansion of the fire pump test metres market is expected to continue, with global demand expected to exceed US$ 192 million in 2019, up from approximately 183 million in 2018. These findings come from the most recent FMI research report, which predicts a bright future for the fire pump test metres industry in 2019 and beyond.
According to the survey, larger trends such as a greater emphasis on operational efficiency and downtime mitigation continue to drive investment in fire pump test metres.
End-users continue to favour mid-sized pipes, according to the FMI report, because they may be used in a larger range of applications. According to the report, the top-selling version in 2019 will be ‘5.1 inches to 9 inches,’ with the status quo unlikely to change during the projected year.
Stringent regulations and growing demand for Factory Mutual (FM)-approved fire pump test meters
Various associations and regulatory bodies have defined a set of standards that are needed to provide an essential level of security for fire protection systems. These standards and regulations are playing an important role and are creating high demand for fire pump test meters. Moreover, with steady growth in infrastructure in various countries around the world, the usage of high-performance fire protection systems is not only critical, but also necessary.
Various providers of fire pump test meters are focusing on providing FM-approved and National Institute of Standards and Technology (NIST)-traceable calibrations. These are the some of the key standards that are contributing to the growth of the global fire pump test meters market.
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FMI Survey Finds End-Users Prefer Grooved Fire Pump Test Meters over Flanged Variants
The FMI survey finds that fire pump test meters with grooved body type remain highly-favored, with global sales likely to equal a market value of over US$ 95 Mn in 2019. The oil, gas, and chemicals industries continue to spearhead demand, with the market benefitting from the recovery in oil prices. According to the study, evolving regulations concerning safety at oil & gas plants are likely to hard press stakeholders to bolster their security apparatus.
Fire pump test meter sales in the oil & gas industry are likely to be complemented by growing applications in power generation sector. Testing equipment, including fire pump test meters, is emerging as a viable investment for reducing high insurance costs in the power generation sector; the FMI study remains bullish on adoption of fire testing equipment in power generation sector in the future.
North America, spearheaded by healthy sales in the US, retains its lucrativeness in the fire pump testing meters market. The lucrativeness of this region can be attributed to growing emphasis on process streamlining by diverse industry verticals.
The manufacturing framework of fire pump testing meters remains highly influenced by codes and standards issued by prominent organizations, such as National Fire Protection Association (NFPA), vis-à-vis design of fire pumps and related components. Moreover, NFPA guidelines on inspection of fire pump test meters post initial installation and on annual basis thereafter remains a crucial aspect encouraging manufacturers to offer value-added services. With disruptive innovations gaining traction, manufacturers are vying to offer advanced products that simplify testing processes with a high level of reliability.
Addressing the challenges associated with accuracy in high precision for even low-end readings remains a key focus area for manufacturers. Sensing the shifts in end-user demand, manufacturers are incorporating advanced materials to withstand extremes of operational environment. Fire pump test meter manufacturers are also offering extended warranties to boost consumer confidence and repeat sales.
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Key segment on the basis of pipe size
- 1-5 inches
- 5.1-9 inches
- 9.1-12 inches
On the basis of body type
- grooved
- flanged
- others
On the basis of end use
- oil
- gas & chemicals
- power generation
- manufacturing
- fire protection
- pulp & paper
- other industries
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